Does anyone have any insights about Susquehanna Growth Equity? Would love any info about the firm anyone could provide, thank you!
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Good shop, kind of a unique structure in that they aren't a traditional GP/LP structure. They take money from the broader Susquehanna international parent organization and invest out of that. So it's hard to think of them as a $xxxM type of fund. They tend to fly under the radar given their location (Philly suburbs) and type of deals they get into (not the super sexy late stage rounds in the Ubers of the world) with that being said, returns are pretty strong.
Mostly growth equity with a pretty broad mandate, but almost always on the minority side of things. They range from doing smaller growth rounds to pretty big later stage deals, similar to a JMI or IVP-esque types of deals.
As a junior you'll mostly be sourcing focused with execution responsibilities as you move up the chain. Overall, I'd say it's a great place to start your career and learn a lot about growth equity. The only real con is, you'll never get exposed to fundraising process or quite as much pressure as you would be if you were beholden to external LPs. There's nuance to things like reporting, capitals calls, etc that if you won't have as much exposure to. With that being said, you're not really dealing with those things until you're at the ~VP level anyways so if you're just looking at the analyst/associate role, it's a good place to spend a few years.
Super helpful - thank you
Any thoughts around exit ops, comp, etc?
For comp, I would expect it to be good, but slightly below market given location. With that being said, Philly is a lower COL city so I'd imagine you'd come out about the same. Comp would start to vary at the more senior level given the non traditional carry structure, but based on what I perceive your age/position to be, you're probably ~5 years out from having to think about carried interest anyways.
Exit options I'd imagine are pretty solid. Susquehanna is known within the growth equity world. Not quite as strong of a brand name as maybe a General Atlantic or something like that, but by no means a no name fund. You're probably not exiting to a MF but then again, you wouldn't have that opportunity unless you were at a top BB bank or a UMM fund. Otherwise, I'd imagine it could mostly place you where you want to go. Corp Dev, other Growth/Private equity, business school, etc.
Super helpful again - thank you
Where do you go to get data on how their returns are? Or is this knowledge from speaking with people?
Any more opinions on this? Thinking about submitting an application - I have an offer from a BB (CS, BAML, Citi type) and was wondering if my exit opportunities would be vastly different between a shop like SGE and a BB.
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